Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger

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Schedule of Cash Collections on Accounts Receivable and Cash Budget
Fahrad Inc. sells all of its product on account. Fahrad has the following accounts receivable payment experience:
To encourage payment in the month of sale, Fahrad gives a 2 percent cash discount. Fahrad's anticipated sales for the next few months are as follows:
Required:
1. Prepare a schedule of cash receipts for July.
2. Prepare a schedule of cash receipts for August.